No, you lose "redeemable xper" which is calculated independently from your total, basically your total remains the same but the redeemable xper is decreased. Redeemable xper is the same as your total in quantity, except all other redeemed item costs are subtracted from it. So, your total xper and your level stay the same. You just won't be able to redeem items with xper sou have already redeemed. I hope that makes sense.

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Home > G@G Community > If I use my Xper points on a giftcard, does my level drop down?